New currency crisis in Azerbaijan

New currency crisis in Azerbaijan Azerbaijani banks completely halted foreign-currency sales as demand by businesses and households soared and the manat continued to depreciate against the dollar. Central Bank of Azerbaijan depreciated local currency against the dollar by almost 7 % in the last month. The official rate of the manat was depreciated against the dollar to 1.7039 on November 15th, 2016 from 1.5969 on October 18th 2016. Meanwhile, the... Read More